Voyce Pullin Markets Limited 04760021 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Rural Auctioneering Digita Accounts Production Advanced 6.30.9574.0 true 04760021 2022-08-01 2023-07-31 04760021 2023-07-31 04760021 bus:Director2 1 2023-07-31 04760021 core:CurrentFinancialInstruments 2023-07-31 04760021 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 04760021 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 04760021 core:Non-currentFinancialInstruments core:Unsecured 2023-07-31 04760021 core:Goodwill 2023-07-31 04760021 core:FurnitureFittings 2023-07-31 04760021 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 04760021 core:MotorVehicles 2023-07-31 04760021 core:OtherPropertyPlantEquipment 2023-07-31 04760021 bus:SmallEntities 2022-08-01 2023-07-31 04760021 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04760021 bus:FullAccounts 2022-08-01 2023-07-31 04760021 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 04760021 bus:RegisteredOffice 2022-08-01 2023-07-31 04760021 bus:CompanySecretary1 2022-08-01 2023-07-31 04760021 bus:Director2 2022-08-01 2023-07-31 04760021 bus:Director2 1 2022-08-01 2023-07-31 04760021 bus:Director3 2022-08-01 2023-07-31 04760021 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04760021 bus:Agent1 2022-08-01 2023-07-31 04760021 core:Goodwill 2022-08-01 2023-07-31 04760021 core:Buildings 2022-08-01 2023-07-31 04760021 core:FurnitureFittings 2022-08-01 2023-07-31 04760021 core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04760021 core:MotorVehicles 2022-08-01 2023-07-31 04760021 core:OfficeEquipment 2022-08-01 2023-07-31 04760021 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 04760021 core:PlantMachinery 2022-08-01 2023-07-31 04760021 countries:EnglandWales 2022-08-01 2023-07-31 04760021 2022-07-31 04760021 bus:Director2 1 2022-07-31 04760021 core:Goodwill 2022-07-31 04760021 core:FurnitureFittings 2022-07-31 04760021 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 04760021 core:MotorVehicles 2022-07-31 04760021 core:OtherPropertyPlantEquipment 2022-07-31 04760021 2021-08-01 2022-07-31 04760021 2022-07-31 04760021 bus:Director2 1 2022-07-31 04760021 core:CurrentFinancialInstruments 2022-07-31 04760021 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 04760021 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 04760021 core:Non-currentFinancialInstruments core:Unsecured 2022-07-31 04760021 core:Goodwill 2022-07-31 04760021 core:FurnitureFittings 2022-07-31 04760021 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 04760021 core:MotorVehicles 2022-07-31 04760021 core:OtherPropertyPlantEquipment 2022-07-31 04760021 bus:Director2 1 2021-08-01 2022-07-31 04760021 bus:Director2 1 2021-07-31 iso4217:GBP xbrli:pure

Registration number: 04760021

Voyce Pullin Markets Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Voyce Pullin Markets Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 14

 

Voyce Pullin Markets Limited

Company Information

Directors

Mr JW Pullin

Mr CD Voyce

Company secretary

Mr C D Voyce

Registered office

Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Voyce Pullin Markets Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Voyce Pullin Markets Limited for the year ended 31 July 2023 as set out on pages 3 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Voyce Pullin Markets Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Voyce Pullin Markets Limited and state those matters that we have agreed to state to the Board of Directors of Voyce Pullin Markets Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Voyce Pullin Markets Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Voyce Pullin Markets Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Voyce Pullin Markets Limited. You consider that Voyce Pullin Markets Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Voyce Pullin Markets Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

28 December 2023

 

Voyce Pullin Markets Limited

(Registration number: 04760021)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

1,000

Tangible assets

5

45,705

43,998

 

45,705

44,998

Current assets

 

Debtors

6

1,406,376

848,234

Cash at bank and in hand

 

3,263

255,072

 

1,409,639

1,103,306

Creditors: Amounts falling due within one year

7

(676,672)

(424,357)

Net current assets

 

732,967

678,949

Total assets less current liabilities

 

778,672

723,947

Creditors: Amounts falling due after more than one year

7

(104,765)

(104,765)

Provisions for liabilities

(128,845)

(111,007)

Net assets

 

545,062

508,175

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

544,062

507,175

Shareholders' funds

 

545,062

508,175

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Voyce Pullin Markets Limited

(Registration number: 04760021)
Balance Sheet as at 31 July 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 December 2023 and signed on its behalf by:
 

.........................................
Mr JW Pullin
Director

.........................................
Mr CD Voyce
Director

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

These financial statements were authorised for issue by the Board on 28 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

5% Straight line

Plant & machinery

25% Reducing balance

Equipment

25% Reducing balance

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 14).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

20,000

20,000

At 31 July 2023

20,000

20,000

Amortisation

At 1 August 2022

19,000

19,000

Amortisation charge

1,000

1,000

At 31 July 2023

20,000

20,000

Carrying amount

At 31 July 2023

-

-

At 31 July 2022

1,000

1,000

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 August 2022

24,553

68,122

23,000

330,840

446,515

Revaluations

-

-

-

11,432

11,432

Additions

-

1,338

-

-

1,338

At 31 July 2023

24,553

69,460

23,000

342,272

459,285

Depreciation

At 1 August 2022

16,436

52,275

15,723

318,083

402,517

Charge for the year

1,228

1,919

1,819

6,097

11,063

At 31 July 2023

17,664

54,194

17,542

324,180

413,580

Carrying amount

At 31 July 2023

6,889

15,266

5,458

18,092

45,705

At 31 July 2022

8,117

15,847

7,277

12,757

43,998

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Included within the net book value of land and buildings above is £6,889 (2022 - £8,117) in respect of freehold land and buildings.
 

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

20,995

86,739

Prepayments

8,760

16,837

Other debtors

1,376,621

744,658

 

1,406,376

848,234

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

374,786

128,346

Trade creditors

 

35,180

51,002

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

160,493

145,026

Taxation and social security

 

76,716

88,565

Accruals and deferred income

 

6,820

4,978

Other creditors

 

22,677

6,440

 

676,672

424,357

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

104,765

104,765

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Unsecured debentures

104,765

104,765

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

374,786

128,346

 

Voyce Pullin Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Related party transactions

Transactions with directors

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Loan to company

(32)

389

(400)

(43)

         
       

 

2022

At 1 August 2021
£

Advances to director
£

Repayments by director
£

At 31 July 2022
£

Loan to company

(196)

364

(200)

(32)